You could easily argue that this guy made poor decisions with his money, but it's also all too easy for investors to attribute their success to skill, not just a few lucky bets.
In the long run, my understanding is that few things will consistently outperform plain old index funds.
Doing the research and buying a house/condo in the right area, at the right time, can easily outperform an index fund. It is probably harder to do than just plumping money into an index fund, but it is a good example here for how you can allocate your funds in a less 'conventional' way.
You could easily argue that this guy made poor decisions with his money, but it's also all too easy for investors to attribute their success to skill, not just a few lucky bets.
In the long run, my understanding is that few things will consistently outperform plain old index funds.